UPS turns the page as job cuts and Amazon ‘glide down’ are completed

Key insight: Fifth Third is using new AI tools to track the progress of its merger with Comerica, which it acquired earlier this year. Forward look: Fifth Third is just one of many banks that are increasingly creating their own AI tools. Expert quote: “These monitoring tools that are AI-powered have been very helpful for…

Crypto.com said Thursday that it has secured a strategic $400 million investment from Citadel Securities, valuing the company at $20 billion in what is the first institutional funding round in its decade-long history. The investment comes as the crypto industry undergoes rapid institutionalisation, with digital assets increasingly serving as fundamental infrastructure for capital markets.  The…

It’s a ‘major taxpayer win,’ according to one advocate inside the IRS

When CVC Capital Partners put Greek eCommerce platform Skroutz up for sale earlier this year, it skipped investment bankers and used artificial intelligence to run the process instead, The Wall Street Journal reported. CVC sent prospective buyers a link to a data portal that functioned as an investment memo and a chatbot answered questions on…

Sixty percent of approved borrowers sought financing for working capital needs, like paying for inventory, overhead or repairs. Approved borrowers reported earning a median annual revenue of $900,000, though it varied by quarter, industry and time in business. The gap between what borrowers requested and what they ultimately received was widest among lower-revenue businesses. But…

“Several regions are now seeing that uptick in momentum carry into summer, as buyers who held back earlier in the year re-enter the market. In many cases, what has kept consumers on the sidelines is not a lack of interest, but a lack of urgency.” Greater Toronto and Greater Vancouver bore the steepest annual declines…